A 24,240 square foot transit-oriented development site in Seattle’s
University District, has sold for $17,255,000. Kidder Mathews commercial real estate brokers, Holly Yang, CCIM and Michael Yeh, represented the buyer, a private real estate fund, in the transaction. The seller was represented by Ken Hirata and Jeff Loftus, also with Kidder Mathews, and Giovanni Napoli and Philip Assouad with IPA.
The site is made up of three parcels at 4212 Roosevelt Way NE, 1006 NE 42nd Street, and 4211 11th Ave NE, and located only three blocks from the future University District Light Rail station. The buyer is a developer of multifamily properties, and they are planning construction for a mixed-use high-rise building that will include 200+ apartment units.
“We continue to see strong interests from both national and local developers/investors for development sites in the U-District,” said Yang. “We are thrilled to have helped our clients in acquiring another prime development site in Greater Seattle,” she said.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 800 real estate professionals and staff in 22 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $9 billion in transactions, manages over 53 million square feet of space, and conducts over 1,600 appraisals annually. For more information, visit kidder.com.